Stop The Worry With 3 Steps To Better Money Decisions
Build Financial Confidence With This 3-Part Framework
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You’re worried about messing things up with your money, and so instead of taking action, you stall.
This episode is going to help you understand why mistakes and messes are different, and how taking action will help you build the financial confidence you need.
If you’ve ever contemplated your next money decision and not taken action because you were afraid you would mess things up, this episode is for you.
Today I’m talking about making confident financial decisions and why not taking action will keep you from making the progress you want. I’ll discuss three steps to help you start taking action and limit the fear of making a mistake.
By the end of this episode, you’ll know that messes are not going to happen, but mistakes will, and how to use those mistakes to help you be successful and more confident with your money decisions.
What You’ll Learn
Why the fear of messing up and staying stuck is common for many individuals
The biggest mistake people make when trying to make decisions with their money
How to build trust in yourself and make better money decisions
The three step framework to help you build financial confidence
Episode Highlights:
00:00 Why You Feel Stuck
02:33 Accumulation Habits
04:25 Old Habits Stall Progress
08:22 Scenarios to Find Focus
10:09 Map the Path and Detours
11:56 What Winning Looks Like
13:27 Reassess and Build New Habits
If this episode has you thinking about how to take action, the next step is getting clear on your financial situation and the goals you want your money to support.
That’s exactly what we do together inside the Retirement Ready Strategy Session.
In this session, we’ll review where your money is going, identify what may be missing from your current plan, and create a clear action plan for the three most important priorities with your money right now.
You can learn more and take the next step by clicking the button below.
Unedited Transcription of Episode:
You work hard, you're smart. You even save, but you still feel confused about money and you're asking yourself why? Because managing money isn't just about earning or saving. It's about knowing what to prioritize or what to track, and how to make decisions that will get you momentum. That's what we're talking about today.
In this episode, I'm excited to help you learn how to build confidence to make better decisions or to make any decisions. 'cause it's a lot of you are just, you're staying stuck. You're making it complicated. You're not taking action. And it's, it just amazes me in my many conversations I've had in the last few months and even over the years, the smart and intelligent people on the other side, their area of expertise, I feel humbled to even be talking to them, right?
We all have an area of expertise that we know well. We're smart, and so I have thought about it. And I'm like, why is there such a lack of confidence with money right now? I did say it's not just about earning or saving, and so it's true. We all know how to get a paycheck. We all know how to use a bank account and spend money and put it into savings if it stays there, right?
But those are the things we talk about. When we talk about talking about money, that's what we do and that's what everybody does, right? Everybody pretty much do does these things that I just mentioned. And then from there is where the confidence starts winging and when you're trying to make bigger things happen, so you're trying to get bigger results.
I just see the confidence wanes as. The individuals are talking and then they're, they're like, uh, I just, and it's at this point that our lives are different. Money wise. One person may be trying to invest in property. One person may be just surviving for the day. One person may be right. And so these bigger results, these bigger decisions we need to make are not talked about.
They're not common because it doesn't involve the whole masses. And so as you're looking at it, number one, I know it's scary. Number two, you're like, I'm really trying to make something happen. And so then you think, what if I try and mess this up? And it's this thought that keeps many people from taking action or making progress.
I've heard this on calls many times. I do it, but I'm just worried I'm gonna mess it up. Or, you know, I, I would like to do this, but what if I mess it up? So let me put on my coaching hat for just a quick moment. If this is you, whatever the thought was, right? If I'm gonna mess it up, I'm not sure what to do.
I don't dare do it. If you have the best of intentions. And you have taken your time to evaluate the decision, right? Evaluate what you're wanting to do. You might make a mistake, but you're not going to mess up. Okay? Best of intentions. You've taken some time. It wasn't just spontaneous or sporadic. Yeah, you might make a mistake, but it's okay.
Even a mistake is progress. A mistake just means we didn't get the results we wanted. Okay. And we didn't. We didn't end stuff and we're never gonna come back from it. Okay. That's what I think we have in our heads because the result is big, or what we're trying to achieve is big. We think if we take a step and we don't work, that it's just gonna crumble and fall.
You're just taking the first step. Okay. If you take action and get a result, you don't like. The quote mistake, then you just choose to take a different action. You solve the mistake and you make progress. So instead of originally having the three and you took action on one, you now have two. 'cause you know that one's not gonna work and you just, that is how you process things.
And I know you know this, but it just feels so complicated with money. Because it's in an area that, we don't talk about thing, you know, people don't talk about. It does become scary. But it's not going to be a mess. So don't make it more complicated than it is. Okay? And I'm gonna help you do that by sharing with you three steps to confident decisions.
All right, so obviously practice makes Perfect. Kind of heard that in the beginning, but there are three things to get you started to help you start making this confident decision framework. Step one, decide what it is you want or what you're working toward, and you're like, okay, yeah, that makes sense. But you need to clarify.
Clarify the goals, the priorities, the values, the little details. Maybe not too many, but you're gonna need to know what and when. For example, say you want to pay off debt, okay, that's what you want, but it's not clear. Okay. I'm, I wanna pay off debt. We need to clarify the details. So what debt?
And when. So say you wanna be debt free, maybe that's the overall goal. Great. But I need you to get more detailed than that. What debt and when. Okay. Micro decisions here. Big task, micro decisions so that you know what it is and when you wanna do it. And that might change as you kind of go through this process, but that's what this process is helping you do.
Step two, I want you to create a plan and a system to support your money, okay? Using the same example, creating a plan would be a debt payoff plan. Okay? It's gonna have the details, right? It's going to be, I'm gonna pay this much to this debt for this long. Great. The system to support that is, say you have $200 every paycheck that is going to go towards the debt.
The system is every payday I make the payment onto the debt, right? The system is what makes it happen, and it can be just as simple as you taking action trigger payday. Send $200 to debt done trigger payday, send $200 to debt. That is the system. We have the plan, but the action is the system. So we've gotta specify what it is that we're doing in step two, step three.
So these steps are a cycle, a circle, and step three does not happen immediate. Okay. Step three is where we're going to review. We want to review results, but we've got to wait for results first. So hopefully you kind of have an idea about how long maybe you're gauging, maybe you're reviewing, just, you know, looking at it, watching it.
Maybe you are like, okay, I'll give it two, three months and then see what the results are. We've gotta wait for a minute to see if it's going to work. And so then you want to review those results. Okay. What are you looking for? I know this is where most of my clients say, I don't know what I was looking for.
I had tracked my numbers, but I didn't know what to look for. So as you put into play your plan and your system, you're reviewing your results. Is it big? Is it small? Is nothing happening? Is it going backwards? There's a lot of different things with money, but it still should just be parallel. And you're like, okay, it's going through.
And if you're like, you know what? Nothing's happening. And I know for paying off the debt, it seems a little, I can't even think of the word.
It seems like it's not what you would do, but you're gonna review it. Make sure you're on track, make sure you're waiting for. Or feeling things right? Every payday for that $200, if you're like, I don't have $200, those are results too. What happened? What was the shift? Maybe you're 18 months on your this plan and this system, and now you don't have the $200 every paycheck you gotta go.
Those are results. What happened? What do I need to do? Go review, adjust, and repeat. Right. So you're gonna sit right in step three for a while, and then with the results that are yay, nay, or you are not able to implement the plan anymore, then you've gotta go back to step one. So step three becomes the holding pattern, and then step one and a two, and then you hold it three, then you go one and two, right?
So it's a cycle, it's a circle, and you keep on going. Review, make adjustments. Keep going, review, make adjustments, keep going, and I want you to know nothing is ever perfect, okay? You can hope for it to work out the first time, and maybe it does, and then the second time it doesn't, and that's okay. The only way you're going to build your confidence is to try see the results, because what if it does work? What if it does work? Then you can get excited. This is what I tell my clients. I'm like, just try. Just try and as soon as you see something, you get excited and you wanna keep going. So you do.
And maybe you're like, this is working. I want it to work faster. Okay. That would be a review and a result, adjust and keep going. Every step forward is going to teach you something and strengthen your money muscle. Taking you out of that stuck. We don't wanna stay stuck. We don't wanna stay stagnant.
We don't wanna just say it's gonna be fine. No. We wanna see things happening. We wanna know that we're making progress somewhere. Somewhere. So take choose. I know we talked about focus last episode, but just choose somewhere you wanna make a difference in your money. Okay. That's something you can do. Very simple, without having to be a big overarching plan.
Just be like, I wanna do something better here. Decide what it is you wanna do, what you're working towards. Create that plan. Set up a system. And then wait for results. Wait for results. What are you seeing? What is happening? So choose something today and start implementing these three steps. But if you need help knowing what that first step should be.
I would love to have you inside my map, your Money to retirement workshop. We are going to peak at your progress first, right? We're gonna peak there. We're going to create a plan, get a focus. Once you have that focus, we're gonna create a plan on what you're gonna do for the next 90 days. But I'm also going to help you implement one of my money systems that I teach inside my coaching.
I'm so excited to bring that to the workshop this time and help people understand the functioning of money and how it flows. Cash flow is a word that I have had coaches tell me. Nobody knows that word. Now, business owners, do I get that? But the way your money flows around doing the things it needs to do, that is cash flow, right?
It's just money otherwise. So I am going to help you implement a cash flow system for savings. So I hope you'll join me. I hope this was helpful. Just know your money doesn't need to feel complicated and you don't need to have all of the answers. First step is clarity. Just take a step, choose an area you wanna do better in, get clear on it, make the plan, take action, and review your results.
I hope this episode has been helpful, and we'll see you next week.
